Donald Trump said of the Venezuelan oil deal: "Maybe the greatest deal ever made"

President Trump promoted the U.S. government's newly announced stake in Venezuelan oil operations as potentially historic, but industry analysts caution the deal is unlikely to deliver near-term relief at the pump. The agreement, unveiled Friday, gives Washington a 35% interest in a Venezuelan production company that holds contracts for 17 oil fields with roughly 65 billion barrels in estimated reserves, plus rights to buy the crude. Trump said it would lower U.S. gasoline prices and help refill the Strategic Petroleum Reserve, now at 287 million barrels. Asked Monday about gas prices, he instead spoke broadly about the deal's significance and said its historical standing was uncertain. Experts note Venezuela's current output is only 200,000 barrels a day, a large ramp-up may take years, and extraction is costly and hazardous.